A behavioral data analysis program will record user activity to identify suspicious activity. For example, if an employee is spending too much time on non-work-related websites, the program will flag this as suspicious activity. By tracking such behavior, companies can prevent such activities and keep track of their employees. In addition, behavior analytics software helps businesses identify disengaged employees. By identifying disengaged employees at an early stage, managers can intervene and provide coaching or mentoring to these employees.
Before purchasing a behavioral analytics software, teams should establish their needs. These teams should be cross-functional and present use cases of how the platform will help them meet their goals. After identifying the requirements, they can rank features by necessity. They can be critical, nice to have, or auto-disqualifiers. A behavioral analytics software should help identify interesting correlations and patterns. In addition to providing insights, these systems should be easy to use, scalable, and extensible.
Data breaches are on the rise. In fact, 1 in 5 breaches involve individuals who have access to sensitive information. Even a flash drive could become an instrument of destruction if the wrong person has the intent. By identifying these risks early on, organizations can better secure their valuable assets. To do so, user behavior analytics software is a key tool for identifying potentially risky behavior and users who have access to sensitive data. A UBA solution can be configured to automatically respond to suspicious activity.
A behavioral analytics software system also allows companies to track and analyze employee behavior across various channels. Moreover, these programs can identify insider threats, and can alert the user immediately. With the help of behavioral analytics, businesses can also determine which channel their customers are using. Once they have a comprehensive view of customer behavior, they can determine how to reach them at every stage of the customer’s lifecycle. So, a good behavioral analytics software solution should measure all the various actions that consumers take in every channel.
ForMotiv is one behavioral analytics solution that can put companies in the game on day one. It collects Behavioral Intelligence (BI) data, detects predictive behavioral signals and scores customer outcomes based on their unique behavioral attributes. Its fast time to market makes it a top choice for startups. If your business is serious about reducing your costs, behavioral analytics is an invaluable tool. So, don’t delay in investing in the solution. If you’re ready to start using behavioral data to increase customer service, you’ll be well on your way to a profitable business model.
It’s not rocket science, but it’s a lot easier than you might think to understand the behaviour of your users. We like to think that we are thoughtful, that we have plans, that we are aware of our deepest motivations, and that we are aware of how to accomplish what we set out to do.
However, in reality, the vast majority of customers are motivated unconsciously, and the vast majority of businesses are unable to predict their behaviour one hundred percent of the time. Businesses have the ability to increase their conversion rate, customer retention rate, and customer lifetime value by utilising behavioural analytics.
